Terra Capital PLC Result of Tender Offer (4766H)
13 Março 2018 - 4:00AM
UK Regulatory
TIDMTCA
RNS Number : 4766H
Terra Capital PLC
13 March 2018
Legal Entity Identifier: 2138006S6U2X7L4R8V74
13 March 2018
TERRA CAPITAL PLC ("the Company")
Results of Tender Offer
Terra Capital plc (AIM:TCA) announces that further to the
announcement of the Tender Offer on 15 February 2018 and the
results of the EGM held on 9 March 2018, the Tender Offer for the
purchase of up to 6,146,931 Ordinary Shares (representing 10.0 per
cent. of the Ordinary Shares in issue as at 29 December 2017
excluding Ordinary Shares held in treasury) closed at 1.00 p.m. on
12 March 2018.
A total of 5,829,690 Ordinary Shares were validly tendered under
the Basic Entitlement of the Tender Offer. This equates to
approximately 9.5 per cent. of the Ordinary Shares in issue as at
29 December 2017 (excluding Ordinary Shares held in treasury), and
approximately 95 per cent. of the Ordinary Shares in respect of
which the Tender Offer was made. Excess tenders will be satisfied
to the extent of a further 317,241 Ordinary Shares, representing
1.77 per cent. of the excess Ordinary Shares tendered.
In total, 6,146,931 Ordinary Shares were validly tendered under
the Tender Offer, representing 10.0 per cent. of the Ordinary
Shares in issue as at 29 December 2017 (excluding Ordinary Shares
held on Treasury), all of which will be repurchased by the Company
and placed in treasury. The existing Ordinary Shares held in
treasury prior to the Tender Offer will be cancelled (6,829,924
Ordinary Shares).
Creation of assured payment obligations for the proceeds of the
Tender Offer in respect of Ordinary Shares in uncertificated form
will take place on 15 March 2018 and the dispatch of cheques for
the proceeds of the Tender Offer for Ordinary Shares in
certificated form will take place in the week commencing 18 March
2018.
Capitalised terms and expressions have the same meanings as
those attributed to them in the Company's Circular dated 15
February 2018.
For more information, please visit www.terracapitalplc.com or
contact:
Galileo Fund Services Limited (Administrator)
Frazer Pickering
+44 1624 692600
Panmure Gordon (UK) Limited (Nominated adviser and corporate
broker)
Paul Fincham or Jonathan Becher
+44 20 7886 2500
Terra Capital plc.
Ian Dungate, Director
+44 1624 692600
NOTES:
Terra Capital plc is an AIM quoted investment company focussed
on generating high absolute returns while attempting to keep
volatility to a minimum. The Fund predominantly invests in
under-researched and under-valued companies listed on Frontier
Market stock exchanges. The Fund Manager targets for investment
companies that it believes are trading for less than their
intrinsic worth and so, aside from any potential growth prospects,
provide scope for capital appreciation as a result of a reversion
towards their underlying value. Investments are also made in
companies which are viewed as trading at fair value but which offer
opportunities for growth at a reasonable price. The Investment
Manager believes many such 'value' opportunities can be found in
Frontier Markets due to inherent market inefficiencies in such
markets. The Manager utilises in-house teams of its own analysts,
resident on the ground in areas of interest to investigate suitable
opportunities rather than rely on third party research.
END
This information is provided by RNS
The company news service from the London Stock Exchange
END
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